[Greens-Media] Clip Bank CEO's millions - Greens

[Bennett, Ebony (Sen B. Brown)]

Monday, 13 October 2008

Clip Bank CEO's millions - Greens

Australian Greens Leader Bob Brown says that now taxpayers are guaranteeing Australia's banks, the most extravagant CEO pay packages should be clipped in return.

"Macquarie Bank's CEO takes home over $26 million this year. The big 4 bank's CEOs will get multimillion pay - but it is now the taxpayer's responsibility, rather than theirs, to assure depositors," Senator Brown said.

"Perversely, as their responsibility went down, the stock market and their prospective pay went up today.

"The Greens urge the Prime Minister to ensure the urgent legislation includes a formula to sensibly reduce the most obscene CEO payments, which are more than 10 times what he earns. If not, the Greens will devise an amendment for the Senate," Senator Brown said.

Further information: Ebony Bennett 0409 164 603


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Ebony Bennett
Media Advisor 
Senator Bob Brown | Leader of the Australian Greens 
e: ebony.bennett at aph.gov.au 
m: 0409 164 603 | p: (02) 6277 3170 | f: (02) 6277 3185
w: www.bobbrown.org.au <http://www.bobbrown.org.au/>   <http://www.greens.org.au>